Real Estate Rumors: Westbrook, AJ Capital, Carpe

Law360 (March 16, 2018, 7:09 PM EDT) -- Westbrook Partners has taken a stake in HFZ Capital Group's Belnord redevelopment project in New York, The Real Deal reported on Friday, citing sources with knowledge of the matter. The firm has converted the debt it owns in the 680,000-square-foot apartment complex on the Upper West Side to equity, The Real Deal said. HFZ bought the property in 2015 for $575 million, according to the report.

AJ Capital Partners has scored $60 million in financing for a hotel project on Roosevelt Island in New York, Commercial Observer reported on Friday. The financing from Emigrant Savings Bank is for a planned 224-room...

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